Hyperliquid Adds Optional Wallet Allowlists to Perpetual Markets

Hyperliquid, an onchain derivatives exchange, has introduced optional wallet allowlists to its perpetual markets. This feature, called HIP-3*, allows a market deployer to decide which wallets can trade on their venue without imposing the same access policy across Hyperliquid.

The testnet-only extension is part of Hyperliquid's framework for perpetual markets deployed by independent builders. According to the API reference, a new venue can be designated as HIP-3* when created, enabling an onchain allowlist and proxied user actions.

A deployer with HIP-3* control can act for a user in five defined ways: add or remove allowlist approval, cancel specified resting orders, cancel all of the user's resting orders and time-weighted average price orders on the venue, place reduce-only orders, and move collateral to another account on the same venue.

The reference notes that each power is limited by the venue boundary. For instance, bulk-cancellation tools leave orders on other DEXs untouched, while collateral-transfer functions are venue-scoped. Proxied orders must be reduce-only, allowing an operator to reduce a position but not increase one through the proxy function.